this post was submitted on 26 May 2026
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A Boring Dystopia

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As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows (apnews.com)
submitted 1 day ago by FlashMobOfOne@lemmy.world to c/aboringdystopia@lemmy.world
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WASHINGTON (AP) — U.S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices hover near record levels.

The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, the first decline after three months of gains. The measure hasn’t fallen as much this year as other gauges of consumer attitudes, but it has been stuck at a low level since the pandemic. Before COVID-19, it regularly reached 130.

A separate gauge of consumer sentiment released last week by the University of Michigan fell to a record low this month. Soaring gas and food costs have worsened inflation that is outpacing the average growth in paychecks, reducing most Americans’ purchasing power. Americans have soured on President Trump’s economic policies, polls show, potentially creating problems for Republicans heading into the midterm elections.

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[–] reddig33@lemmy.world 43 points 1 day ago (4 children)

Electing Harris would have meant Lina Khan would have stayed at the FTC and we wouldn’t have the jackass Trump just appointed to the Fed. Both parties are not the same.

[–] Drusas@fedia.io 2 points 6 hours ago

I miss her.

[–] SnotFlickerman@lemmy.blahaj.zone 4 points 1 day ago

Trump also appointed the Fed guy who has kept shit from completely hitting the fan, too. The new guy is just one vote on the board, he's outvoted by default.